On a calendar-adjusted basis, Turkey’s industrial production rose 4.7% y/y in March (market forecast: 0.9% y/y), after increasing 0.9% y/y in the previous month, data of the statistics office TUIK showed on May 8.
Durable consumer goods production was up 1.6% y/y, energy output rose 1.5% y/y, capital goods production increased 3.2% and manufacturing production showed a 2.5% y/y rise in the month.
Industrial production increased 2.2% m/m in March, following a 1.8% m/m rise recorded in February on a calendar and seasonally adjusted basis.
On an unadjusted basis, Turkey’s industrial production increased a robust 4.8% y/y in the month (market forecast: 2% y/y) after rising 0.9% y/y in February and contracting 2.2% y/y in January.
The central bank said in April that Q1 data pointed to a relatively weak outlook for economic activity. This slowdown was largely due to the weak external demand, volatility in financial markets and adverse weather conditions, said the bank, adding that economic activity is expected to grow gradually and moderately from the second quarter onwards, downside risks remain important.
Industrial Production by main Industrial Groups (March) | ||
(%) | Calendar Adjusted | Seasonally & Calendar Adjusted |
(y/y) | (m/m) | |
Total Industry | 4.7 | 2.2 |
Intermediate Goods | -0.9 | 1.2 |
Durable Consumer Goods | 3.6 | 1.6 |
Non-durable Consumer Goods | 7.2 | 3.6 |
Energy | 2.7 | 1.5 |
Capital Goods | 15.9 | 3.2 |
Source: tuik |
Uzbekistan's central bank on April 25 kept its benchmark interest rate on hold at 14%, pointing to risks that inflation could once more accelerate. Planned hikes of state-regulated prices for ... more
Ukraine's leading private energy company, DTEK, has sounded the alarm, indicating an urgent need for $350mn to recuperate lost capacity resulting from Russia's relentless assaults on thermal power ... more
The International Monetary Fund (IMF) projects real GDP growth of 3.1% this year and 5.6% in 2025 for Kazakhstan in its newly released ... more